There is no denying that a significant proportion of people lean towards purchasing a used car instead of a brand-new one. Buying a pre-owned vehicle seems quite simple. However, there are some things one has to consider before the purchase.
A crucial step that any individual must take before finalizing the used vehicle is to get a FaxVIN report, also known as the vehicle history report. A vehicle history report is key to identifying whether the pre-owned vehicle has previously encountered any issues that you should know about.
Ultimately, one must do their utmost to extract as much information about the vehicle as possible to determine whether the car is worth buying and the amount one should pay for it.
However, getting a vehicle history report made is one thing. Being able to understand it thoroughly is what matters. We’ll walk you through the elements you should look for in a vehicle history report within this article.
Elements to Look Out for in a Vehicle History Report
A vehicle history report provides a user with crucial information like the vehicle’s accident history, ownership, mileage, title information, and more. The only input a user has to supply is the vehicle’s identification number. Once your vehicle history report is ready, you should assess the following information.
Accident History
A vehicle history report provides users with essential information, such as whether there was an accident and how severe it was. Statistics report that over 745,000 vehicles were stolen in the initial three quarters of 2022. A vehicle report obtains this data from various sources like auto repair centers and motor vehicle departments.
At this stage, a question may arise – why get a report when you can physically examine the car? It is necessary to get this report made since most auto repair centers can repair a vehicle so well that the car would look like the accident never happened in the first place.
While the car may appear in a good position at first glance, the structural integrity of its components will always raise doubts. If a car encountered a severe accident and was ‘totaled’ by an insurance company, the company issues a ‘salvage alert’ to prospective customers.
It is best to steer clear of these vehicles as they often have hidden issues, and the resale value will decline significantly. If you come across an automobile in this category, the wisest step is to get a further inspection done by a mechanic.
Vehicle history reports also tend to list minor accidents. Therefore, you must assess how severe the accident was, as minor ones do not affect the car’s performance much.
Previous Ownership
Ideally, customers prefer pre-owned cars previously owned by only one person. However, some listed vehicles turn out to have had multiple owners or happen to be leased cars.
A vehicle history report indicates the number of times a car was issued a title. This information often implies that the automobile has been re-purchased and has had another owner. If a car has had multiple owners, it is usually a sign that the vehicle has a recurring issue.
Odometer
Numerous vehicle sellers tend to be dishonest about the car’s mileage. Therefore, it is important to check the odometer section of the report. The odometer reading is documented every time the car is serviced.
By comparing the mileage on the history report and the mileage you have been told, you can determine whether the seller is genuine.
Conclusion
Customers must consider vehicle history reports as the first step in deciding whether purchasing a pre-owned car is worth it. Investing in a used car can be an overwhelming procedure. However, proper research can save you from future issues.
